Hackers Reportedly Drain $6 Million From Defi Protocol Summer.fi

What Happened

Summer.fi has reportedly been exploited, with roughly $6 million drained so far. Blockaid flagged the exploit in a post on X on Monday.

The security firm published the attacker’s address, the exploit contract, and the affected Lazy Summer contracts.

DeFi Protocol Summer.fi Reportedly Loses $6 Million in Active Exploit

Exploiter address: 0x7BF716167B48CF527725722C6d79494b45B3BDCa

Exploit contract: 0x0514F827C129C16418a0933E03C99A6AF982FC61

0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xA9ca4909700505585B1aD2a1579dA3b670FFA9c4 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xA9ca4909700505585B1aD2a1579dA3b670FFA9c4 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 Security firm PeckShield identified the main affected vault as LazyVault_LowerRisk_USDC (LVUSDC), which Block Analitica risk-manages. The firm said that the vault’s displayed APY briefly spiked to about 2.08 million %. “The largest current holder is 0x8741e8f…4130, which appears to be associated with Torben Jorgensen (UDHC), and has deposited ~8.6M USDC into this vault,” the post read. Follow us on X to get the latest news as it happens Summer.fi, formerly Oasis.app, is the front-end for the Lazy Summer Protocol, an onchain vault system that automatically routes deposits across DeFi yield sources like Aave and Morpho. The network’s native token SUMR traded near $0.00193, down 5.3% over 24 hours. The move diverged from the broader market, which rose more than 1% on the day. The incident marked the second crypto exploit recorded in July, according to DeFiLlama. It follows a series of attacks in June, when crypto platforms lost $75.87 million across 40 hacks, with the Humanity Protocol breach accounting for the largest loss. BeInCrypto has reached out to Summer.fi for comment. This is a developing story. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights The post Hackers Reportedly Drain $6 Million From DeFi Protocol Summer.fi appeared first on BeInCrypto.

The incident marked the second crypto exploit recorded in July, according to DeFiLlama. It follows a series of attacks in June, when crypto platforms lost $75.87 million across 40 hacks, with the Humanity Protocol breach accounting for the largest loss.

The post Hackers Reportedly Drain $6 Million From DeFi Protocol Summer.fi appeared first on BeInCrypto.

Market Context

The network’s native token SUMR traded near $0.00193, down 5.3% over 24 hours. The move diverged from the broader market, which rose more than 1% on the day.

Why It Matters

Security firm PeckShield identified the main affected vault as LazyVault_LowerRisk_USDC (LVUSDC), which Block Analitica risk-manages. The firm said that the vault’s displayed APY briefly spiked to about 2.08 million %.

Details

Blockaid said its detection system surfaced the incident on Monday morning, estimating about $6 million in losses at that stage. The firm highlighted the on-chain addresses associated with the attack.

Affected Summer.fi / Lazy Summer contracts:

0xA9ca4909700505585B1aD2a1579dA3b670FFA9c4

0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06

0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17

“The largest current holder is 0x8741e8f…4130, which appears to be associated with Torben Jorgensen (UDHC), and has deposited ~8.6M USDC into this vault,” the post read.

Follow us on X to get the latest news as it happens

Summer.fi, formerly Oasis.app, is the front-end for the Lazy Summer Protocol, an onchain vault system that automatically routes deposits across DeFi yield sources like Aave and Morpho.

BeInCrypto has reached out to Summer.fi for comment. This is a developing story.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights